How can I check my LIC premium without tax?

How can I know my LIC premium amount?

After purchasing a LIC policy, it’s difficult to check each and every detail about the policy so often by visiting the LIC office.

Track the LIC Policy Status via ‘SMS’

Enquiry Type SMS code (Send to 56767877)
Instalment Premium Write “ASKLIC<Policy Number>PREMIUM”

Is tax included in LIC premium?

Here is what you need to know: For term insurance plans, which are the most economical forms of life insurance, GST applies at a standard 18% on premium payments. For life insurance in the form of Unit-Linked Insurance plans (or ULIPs), GST is also charged at 18%.

What is the tax on LIC premium?

The Term Insurance Plans, Health Insurance Plans and ULIP charges are hiked from 15% Service Tax to 18% GST. NB premium (including Single Premium) of Life Insurance and Pension plans and the First year premium of Annuity plans used to attract 3.75% service tax, which is changed to 4.5% GST now.

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How can I get LIC premium receipt?

The following are the steps you must follow for LIC premium receipt online download:

  1. Visit the LIC website (www.licindia.in) and click on ‘LIC’s e-Services’ under the option which says ‘Online Services’.
  2. If you are a registered user, select ‘Registered User’.

How can I check my LIC policy status?

Procedure to Check Policy Status Online (for Registered Users):

  1. Open the LIC India website and click on Customer Portal located underneath Online Services.
  2. It will redirect to the login page where you should select the Registered User option.

How can I know my LIC policy date?

How to find LIC policy number by name and date of birth?

  1. # By login to LIC portal. …
  2. # Contact your Agent. …
  3. # Visit the Home Branch. …
  4. # Visit any LIC Branch. …
  5. # Visiting the Unclaimed and Outstanding option of LIC.

What is LIC premium amount without tax?

How to Use the LIC Premium Calculator?

Sum assured Policy term Basic premium (premium without tax) (yearly)
30 Lakh 20 Rs. 2,06,943
30 Lakh 20 Rs.2,06,943
50 Lakh 20 Rs. 3,44,905
50 Lakh 20 Rs. 3,44,905

How can I see my lic income tax?

(A) The taxpayer can claim deduction under section 80C in respect of premium on life insurance policy paid by him during the year. Deduction is available in respect of policy taken in the name of taxpayer, his spouse and his children.

Is LIC maturity amount taxable?

Life Insurance Tax Rules

As per Section 10(10D) of the Income Tax Act, the sum assured received on maturity or surrender of a policy or upon the policyholder’s death is completely tax-free. Bonuses received with such an amount are also exempt under Section 10(10D).

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Who will pay GST on LIC premium?

If the entire premium paid by the policyholder goes towards the risk cover in life insurance such as in term insurance plans , the GST of 18% will be calculated on the entire premium.

How can I save my lic income tax?

1. Tax exemption offered under section 80C on life insurance policies from LIC: If you have purchased a life insurance policy on or before 31st March 2012 in your own name or in the name of spouse or child, then up to 20% of tax deduction can be availed on the premium paid towards life insurance policy.

How can I calculate my income tax?

Let’s understand income tax calculation under the current tax slabs and new tax slabs (optional) by way of an example.

How to calculate income tax? (See example)

Up to Rs 2,50,000 Exempt from tax
Total Income Tax Rs 12,500 + Rs 25,500+ Rs 37,500 + Rs 50,000 + Rs 62,500 + Rs 1,77,600 + Rs 14,604 Rs 3,79,704

How can I check my LIC policy history?

To download the LIC premium payment receipt online, you need to be a registered user of LIC’s e-Services. Visit LIC Homepage and click on the link called LIC e-Services that is available on “Online Services”. Click on the tab “Registered User”. Because you are already a registered user.

How can I check my LIC policy online?

Check LIC Policy Status Online (For Registered User)

  1. Step 1: You must visit the e-Service Portal of LIC. …
  2. Step 2: You will need to enter the LIC of India login credentials namely, your User Name and Password.
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How can I see my LIC policy online?

a. If already registered on LIC Portal:

  1. Click on e-Services, login with your user-id and password.
  2. Register your policies for availing the e-services by filling up the form provided.
  3. Print the form, sign it and upload the scanned image of the form.
  4. Upload the scanned image of PAN Card or Aadhaar Card or Passport.